The 30-year-old Wheatsheaf Shopping Centre in Rochdale is set to close forever once the current English lockdown comes to an end, with MCR Property Group drawing a line under its three years operating the mall.
Frasers Group boss Mike Ashley is reportedly angry at being locked out of another brand auction. After failing to secure Debenhams, he's now interested in Jaeger but has claimed he's being denied information.
Frasers Group is continuing its acquisition spree among distressed brands in the UK and while it’s reported to be interested in Debenhams, the company is also said to be looking at Jaeger, Austin Reed and Jacques Vert.
The company wants to delay its rescue plan to save parts of the UK business. It's expected to apply for a 10-day extension of creditor protection as lockdowns in Wales, where it has its HQ, are hampering negotiations.
Philip Day, the retail billionaire behind Edinburgh Woollen Mill, could be preparing to buy back the budget fashion chain Peacocks after an administration filing, while exiting the rest of the business.
EWM on Friday confirmed that 50 of its stores will close with the loss of 600 jobs. Most of the closures are focused on Edinburgh Woollen Mill and Peacocks with the job losses largely being shop floor workers.
UK-based EWM Group, which owns the Edinburgh Woollen Mills, Peacocks and Jaeger brands, among others, could be on the verge of appointing administrators as the Covid crisis cuts a swathe through UK high street brands.